Telecom Egypt secures USD125m loan for new spectrum package

The National Telecom Regulatory Authority (NTRA) has accepted Telecom Egypt’s financial and technical offer to obtain an additional 5MHz of spectrum in the 1800MHz band using FDD technology. The 10-year spectrum allocation was competitively priced at USD 125 million compared with the spectrum awarded in late 2020. 

Telecom Egypt has secured a USD 125 million financing loan from Mashreq Bank for the purpose of obtaining the license. 
The company viewed this as a strategic move to support heavier traffic from a growing customer base while cost-effectively improving service speed and quality. The additional spectrum will boost voice and data service quality, increase network coverage around the country, and support the fast-paced evolution of customer needs and aspirations.  

Adsero – Ragy Soliman & Partners acted as legal counsel for Telecom Egypt on the loan acquisition. The deal was led by Hossam Gramon, partner and head of Banking, finance & projects.